Federal Reserve Governor Tarullo has called for the capping of magnitude of the non-deposit liabilities of banks, and as usual it’s the top firms who are involved – the Too Big To Fail Club. Of them, Bank of America Corporation (NYSE:BAC), Goldman Sachs (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM), and Citigroup (NYSE:C) all have ratios (non-deposit to deposit) greater than 5 percent in the United States, while Morgan Stanley (NYSE:MS) and Wells Fargo come in under that level. Simon Johnson remarked that “This is a major new direction for the Fed. There is agreement across the political spectrum… (the banks) should be made smaller and simpler.”